The company grading healthcare's homework
In value-based care, a hospital and an insurer sign a contract that ties payment to patient outcomes. Then, months later, they argue about the math. Arbital Health, a San Francisco company founded in late 2023, is trying to end that argument by becoming a trusted, neutral place where the numbers get settled.
The pitch is unglamorous by design. There is no consumer app, no diagnosis-by-algorithm headline. Instead, Arbital Health sells the plumbing beneath value-based care: a platform that ingests claims, benchmark, utilization, and contract data, then runs the actuarial calculations - things like IBNR (incurred but not reported claims) and MLR (medical loss ratio) - that decide who owes whom at the end of a contract year. The company describes work that once took months of manual actuarial effort and says its software can compress it into minutes.
It is a wager that the hardest problem in value-based care is not clinical, but administrative and financial. Payers and providers already agree, in principle, that paying for outcomes beats paying for volume. What they lack is a shared, credible source of truth for measuring those outcomes. Arbital Health is selling that neutrality as a product.
Software, plus actuaries
Arbital Health combines a SaaS platform with a dedicated team of credentialed actuaries. The platform centralizes the full contract ecosystem so payers and providers can view, manage, and monitor every risk-based agreement in one place. On top of that data sits Actuarial AI - models trained on actuarial methods that read contracts, automate reconciliation, and forecast surplus or deficit outcomes.
The blend matters. Analytics vendors can produce dashboards; consultancies can supply actuaries. Arbital Health argues the value is in fusing the two, so the same system that displays performance is also the one credentialed professionals stand behind - and that both sides of a contract can accept.
Value-based care still runs on spreadsheets
Risk contracts are complex, and the data behind them is fragmented across systems, files, and formats. Reconciling a contract can mean weeks of manual work, and when two parties do that work separately, they often arrive at different answers.
Arbital Health's response is centralization and automation: one repository for contracts, validated data ingestion, automated IBNR and MLR math, and real-time performance monitoring - so disputes shrink and decisions speed up.
Value-based care remains the most effective way to align financial results with better patient outcomes and build a sustainable healthcare system.- Brian Overstreet, Co-Founder, President & CEO
Both sides of the contract
Arbital Health's clients sit across the value-based care landscape: providers, ACOs and MSOs, payers, integrated delivery networks, home health providers, and the enablers that help organizations take on risk. For providers, the platform helps identify the right patients for a program, price risk contracts, and monitor performance in real time. For payers, it offers a centralized way to manage and monitor the full contract book.
Its coverage spans the major lines of business - Medicare Advantage, Commercial, Managed Medicaid, ACO REACH, MSSP, and the ACA Exchange. By 2025 the company reported more than 40 client organizations and over 600,000 patient lives onboarded, alongside named partners including HarmonyCares, Aligned Marketplace, Arkos Health, and Complete Health.
Risk models covered
Neutrality as the moat
The value-based care software field is crowded with analytics and enablement companies - the likes of Innovaccer, Arcadia, Health Catalyst, and Cedar Gate, plus traditional actuarial consultancies. Arbital Health's differentiation is less about a single feature and more about a stance: it wants to be the independent third party that adjudicates outcomes-based contracts, trusted precisely because it does not sit on either side of the deal.
That framing shapes the product. An adjudication platform that processes monthly and final contract results only works if both the payer and the provider accept its output. Pairing that software with credentialed actuaries - and building the actuarial muscle through acquisition rather than hiring alone - is how the company tries to earn that acceptance. The order of operations is telling: Arbital Health bought an actuarial firm before it had a commercial product.
What's under the hood
Arbital Platform
A centralized system to view, manage, and monitor the full value-based contract ecosystem, unifying claims, benchmark, utilization, and contract data.
Actuarial AI
Models trained on actuarial methods that read risk contracts and automate the analysis that traditionally required manual actuarial work.
Contract Financials
Automates reconciliation and forecasting, including IBNR and MLR calculations and surplus / deficit outcome prediction.
Adjudication Platform
Processes monthly and final contract results, reconciles financial performance, and provides transparency for all stakeholders.
Ingestion & Enrichment
Integrates varied data files, assesses quality, and validates integrity against market benchmarks before any calculation runs.
Actuarial Services
A team of credentialed actuaries offering contract design, pricing, performance measurement, and value-based care consulting.
SaaS with a services spine
Arbital Health sells subscription access to its contract-management and adjudication platform to payers, providers, ACOs, integrated delivery networks, and value-based care enablers, complemented by fee-based actuarial consulting. The neutral-third-party positioning is central to the model: the company is paid to be the shared, credible layer that both parties in a risk contract can rely on.
Actuaries first
The company's core competency is actuarial science applied to value-based care - risk adjustment, benchmarking against risk-matched populations, and the financial modeling that underpins contract performance. That depth was built deliberately: Arbital Health acquired Santa Barbara Actuaries in January 2024 and a second senior actuary team in January 2025, assembling a staff that reportedly includes 13 credentialed actuaries and speaks eight languages across ten states.
The infrastructure layer for a payment-model shift
Value-based care is a long, uneven transition in U.S. healthcare - from paying for volume to paying for outcomes. Arbital Health positions itself not as a clinical player but as the infrastructure beneath that shift: the contracting, measurement, and reconciliation layer that lets risk arrangements scale without collapsing into disputes.
If value-based care keeps expanding across Medicare Advantage, ACO models, and commercial lines, the need for a trusted arbiter of the numbers grows with it. That is the market Arbital Health is betting on - one where being the neutral scorekeeper is a durable role, not a feature.
Two years, fast
Arbital Health founded
Travis May and Brian Overstreet launch the company to fix misaligned incentives in value-based care.
Santa Barbara Actuaries acquired · $10M Series A
The company buys an actuarial firm and raises its first round to build platform and team.
Second actuary team acquired
Arbital deepens its contracting capabilities with a senior actuarial acquisition.
$31M Series B led by Valtruis
With 40+ clients and 600,000+ patient lives, the company raises to scale its VBC infrastructure.
Data people, second act
Travis May
A repeat entrepreneur in data and analytics who also serves as CEO of Shaper Capital, one of Arbital Health's investors. He chairs the board.
Brian Overstreet
Runs the company day to day, framing value-based care as the most effective way to align financial results with better patient outcomes.
Arbital Health has built critical infrastructure empowering payers and providers to reconcile risk-based contracts with accelerated insights.- Mike Spadafore, Managing Director, Valtruis